Reuters

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Kyle Bass Suffers "Worst Year In The Last Ten", Reveals His Best Investment For The Next "3-5 Years"





Iin an interview to be aired tomorrow on Wall Street Week, Hayman Capital's Kyle Bass says that "this has been one of the worst years in the last ten"as a result of his dogmatic views on energy prices. And yet, instead of backing out the Texan is doubling down: "If you are going to allocate capital for the next three to five years, you should do it now" into the energy space over the next 6 months. Will he be right this time? Find out in 12 months.

 
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Putin Names US As Threat To Russian National Security In New Strategy Document





"The strengthening of Russia happens against the background of new threats to the national security [while] conducting an independent policy has triggered a counteraction from the USA and its allies," Russia's new national security strategy document reads. While the Western media has been quick to say that the new appraisal is further evidence of deteriorating relations between Moscow and Washington, an objective take may tell a different story.

 
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Turkey's Erdogan Praises "Hitler's Germany" As Example Of Effective Government





Back in August, Nationalist opposition leader Devlet Bahceli took to Twitter to call Turkish President Recep Tayyip Erdogan a "locally produced Hitler, Stalin or Qaddafi." While Bahceli probably meant that as an insult, Erdogan seems to agree.

 
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Two Dead In Tel Aviv Shooting Attack, Car Bomb Explodes At Afghan Restaurant In Violent Start To New Year





Just hours after Bavarian authorities closed the Hauptbahnhof and Pasing stations in Munich after Germany received a tip from French and American intelligence sources that a terrorist attack was planned for New Year’s Eve, two “incidents” have occurred in Kabul and Tel Aviv.

 
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Iran Defies Obama, Orders Expansion Of Missile Program





Earlier today, we outlined Washington's plan to slap new sanctions on Iran in connection the October test-firing of Tehran's next generation, surface-to-surface ballistic-missile Emad. It didn't take long for Iran to hit back, with President Rouhani now reportedly ordering the Defense Ministry to "expedite" missile development.

 
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Obama To Hit New "Friend" Iran With Fresh Sanctions Over Contested Ballistic-Missile Program





On the heels of a “close call” in the Strait of Hormuz on Sunday, Washington is preparing new sanctions against a handful of companies and individuals tied to Tehran’s ballistic-missile program. "We've been looking for some time‎ at options for additional actions related to Iran's ballistic missile program based on our continued concerns about its activities,” an unnamed US official says. Iran calls the new actions "illegal."

 
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Frontrunning: December 31





  • Oil ends 2015 in downbeat mood; hangover to be long, painful (Reuters)
  • Recession, retrenchment, revolution? Impact of low crude prices on oil powers (Guardian)
  • Midwest Flooding Might Make the Oil Glut Worse (BBG)
  • From Oil Glut to Shortage? Some Say It Could Happen (WSJ)
  • Ten Years After Blowup, Amaranth Investors Waiting to Get Money Back (WSJ)
  • China Fires a Warning Shot at Yuan Speculators With Bank Bans (BBG)
 
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Something Broke In The U.S. Silver Market





By that, I mean the normal supply and demand forces no longer make sense.

 
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Something Just Broke In The U.S. Silver Market





After looking over all the figures, it seems as if something broke in the U.S. Silver Market this year. By that, we mean the normal supply and demand forces no longer make sense.

 
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Puerto Rico To Default On Some Bonds January 1 - Live Feed





“To make a total payment will be almost impossible. If a partial payment is made: what bonds should we pay? It is an assessment that is being done. It is highly unlikely that there will not be default, in whole or partially.”

 
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IMF Chief Pours Cold Water On Optimistic Yellen, Says Growth "Will Be Disappointing"





In a guest article for Handelsblatt, Christine Lagarde warns that 2016 is likely to be a disappointment as the Fed hike and China's transition to a consumer-driven economy continue to weigh on global growth prospects. Sorry Janet, it looks like the IMF doesn't agree with your justification for liftoff.

 
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Frontrunning: December 30





  • Oil rebound fizzles, sending global shares lower (Reuters)
  • Saudi Arabia Won’t Change Oil Production (WSJ)
  • China suspends forex business for some foreign banks (Reuters)
  • Republicans come up short in search for diverse voters in 2016 election (Reuters)
  • Oil Prices Become a Problem for U.S. Steelmakers (BBG)
  • Oil-Producing States Battered as Tax-Gushing Wells Are Shut Down (BBG)
 
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China Suspends Foreign Banks' FX Trading As Offshore Yuan Spread Signals Massive Outflows





For the first time since the August collapse, Offshore Yuan is trading over 1000 pips weaker (relative to the USDollar) than onshore Yuan, signalling outflows are once again escalating. Following the chaos in HIBOR money-markets, Offshore Yuan has crashed to 6.5970 (below August spike lows) to the weakest since Dec 2010. On the heels of this recent divergence between on- and off-shore Yuan, China has suspended some foreign banks from FX trading, we suppose to try and stem the capital outflows.

 
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